Growth & Expansion

Growth comes in many forms – bigger location, additional product lines, new services, opening more stores or even franchising or licensing a concept. While many shops increase what they offer in way of products and services, some may choose to recreate success from one location at another…or 20. If you want to grow and/or expand your business, read on.

Below is a list of titles. If the title is a link I’ve written the post. If not I plan to. I’ll explain each title a bit when I write the post. If you want me to do one sooner rather than later leave a comment.  If the topics are interesting to you please sign up for my RSS feed or email newsletter on the home page.

1. New products = more money?
2. Core competencies. Knowing who you are and what you are good at is important when you create a business and even more important as you grow and expand it.
3. Add a trailer to the back of the store.
4. One or many, that is the question. If you are successful at running one operation, someday you’ll be asked, or ask yourself, whether you want to open another location. Here are 5 Questions you should ask yourself before you pursue opening that second location. It could be the best money you never spend.
5. I want to franchise my business.
6. Proper growth vehicle.
7. The only ship that doesn’t sail.
8. If 1 is good, 10,000 is better.
9. Franchising vs. Licensing.
10. Co-branding.
11. Pot roast on the menu.
12. Don’t ‘tea’se me. A quality tea program can be a valuable profit center. Many tea lovers are looking for a place to get great tea and the local coffee shop is a logical first stop. It doesn’t take a large investment to satisfy current and future customers in a fast growing beverage category.
13. Slow mover.
14. Shore up your systems.
15. Higher sales from existing customers.
16. New customers for the store.
17. Fire the customer.
18. “If I raise prices, they’ll leave me”. I still remember feeling like all my customers would leave me…the first day I raised my prices that is. Truth is, they wanted me to raise my prices. Not that they wanted to pay more for coffee, but rather they wanted me to succeed and adequate margins is a key ingredient to success. Not regularly raising prices is a fatal mistake, let me show you why.
19. New location selection.
20. Big mouth customers.
21. Don’t bite off more than you can chew.
22. What’s it worth to you.
23. Everybody’s gotta die sometime.
24. Throw out the owner.